Phyllomedusa ayeaye is a species of frog in the Hylidae family. It is endemic to Brazil. Its natural habitats are subtropical or tropical moist shrublands, rivers, and freshwater marshes. P. ayeaye is found in the transition zone between cerrado (tropical woodland-savanna) and Atlantic semideciduous forest, laying its eggs on leaves above streams or pools so the tadpoles, when hatched, fall into the water below. This species is under threat from habitat loss resulting from mining activity and fires, and is also affected by pollution from mining and pesticides. Its restricted range is likely to make it particularly vulnerable to these threats.